Thanks! I tested it right away and it works great. I gave it a test associating the traceroute with the device rather than collector and that works also.
My use case is I will have routers I am monitoring over the internet, I have a VPN so it is all private hops for traceroute. I will apply this config to the device, with the traceroute.list property being it's own displayname. This way I will get alerts on route changes that are already associated with the device so I can get alerts and notify people appropriately. I tested this and it seems to work. Next I'll be finding how to omit certain hops in our datacenter that won't indicate a true routing change.